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The rose extract market size is estimated to grow at a CAGR of 6% between 2022 and 2027. The market size is forecast to increase by USD 134.2 million. The growth of the market depends on several factors, including the growing applications in food and beverage industry, the medicinal properties of rose extracts, and the growing awareness about the benefits of natural cosmetics.
This rose extract market report extensively covers market segmentation by product (rose oil, rose hip fruit extract, and rose water), application (fragrance and cosmetics, pharmaceuticals, and food and beverages), and geography (Europe, North America, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The growing applications in the food and beverage industry are notably driving the market growth, although factors such as the availability of counterfeit products may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The growing applications in the food and beverage industry are the key drivers supporting the market's growth. Rose extract can be added to creme brulee, sugar cookies, and others as a flavoring agent. Rose water is extensively used in Asian and Middle Eastern cuisines, especially in sweet dishes. It provides a distinctive flavor to Turkish delight (loukoum) and gulab jamuns. It is a vital ingredient in the popular Indian yogurt drink known as lassi. In Iran, rose water is added to tea, ice creams, cookies, and other sweets.
In Western Europe, rose water is used to flavor marzipan and shell-shaped French Madeleine cakes. Therefore, the growing demand for rose extracts in the food and beverage industry is expected to boost the growth of the market focus during the forecast period.
A growing preference for aromatherapy for stress relief is one of the key market trends contributing to the market growth. Rose oil, which is used in aromatherapy, has a calming effect on the body, which helps in treating depression and lowering anxiety levels. For instance, Thracian Oils Ltd. offers a rose absolute oil that helps lower stress and anxiety levels. The application of such rose oil on the skin helps relax the nervous system and reduce blood pressure.
Factors such as high per capita disposable income in developed economies and increasing health awareness among people across the globe are driving the demand for premium health and wellness products. This has fueled the demand for natural solutions for stress relief, which will boost the use of rose extracts globally during the forecast period.
The availability of counterfeit products in the market is the major factor impeding the market growth. As numerous counterfeit products are available in the market, customers cannot easily differentiate these products from authentic products, which hampers the growth of the market in focus. These counterfeit products contain low-quality seed oils, which are almost similar to pure essential rose oil, and are sold at the same price points as genuine products.
In the recent past, the sale of counterfeit cosmetic products has increased, which contain low-quality seed oils instead of pure rose extracts. There are many unorganized vendors in the market which sell counterfeit essential oils. Therefore, genuine vendors lose their credibility and face financial losses. The use of counterfeit rose oil, rose extract, or rose water may result in various skin infections or allergies. Therefore, the availability of counterfeit products limits the growth of the global rose extract market.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Rose Extract Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Alba Grups Ltd.: The company offers rose extract which is an essential oil steam distilled from fresh roses using alcohol which is an clear pale yellow liquid.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the rose oil segment will be significant during the forecast period. Rose oil is extracted from the petals of roses. Rosa damascena and Rosa centifolia are the two main species of roses that are used to produce rose oil. Rosa damascena is widely cultivated in Bulgaria, Syria, Turkey, Russia, Pakistan, India, Uzbekistan, Iran, and China, while Rosa centifolia is commonly grown in Morocco, France, and Egypt.
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The rose oil segment was valued at USD 178.46 million in 2017 and continued to grow until 2021. Rose essential oil is known for its therapeutic properties and finds high use as an antispasmodic, antiviral, and antiseptic. The product is helpful in treating eczema and menstrual problems. It acts as a tonic for the liver, heart, stomach, and uterus and boosts blood circulation in the body. An increase in awareness about the health benefits of rose essential oil will support the growth of the rose oil segment during the forecast period.
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Europe is estimated to contribute 38% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The factors that make Europe the largest regional market in the world, as well as the highest contributor to the global rose extract market, include the presence of key vendors in countries such as Bulgaria, Switzerland, and France. The high revenue generated by these vendors is also a driving factor.
Prominent vendors in the regional market include Alteya Organics LLC, Givaudan International SA, and Robertet SA. Additionally, strategic initiatives, such as innovative product launches by vendors and the rising adoption of rose extract in cosmetics and personal care products, are other factors that support the growth of the regional rose extract market.
In 2020, the COVID-19 pandemic had a negative impact on the regional rose extract market. However, in H2 2020, most import restrictions were lifted due to the availability of COVID-19 vaccines. Further, rose oil distillation plants in the region resumed their operations. The demand for rose extracts and personal care products that are infused with rose extracts rebounded in the region. Givaudan International SA reported that the company's fine fragrances segment witnessed a growth of 4.2% in H2 2020 when compared to the corresponding period in 2019. The rise in the use of rose extracts across industries, the increase in the launch of new products containing rose extracts, and the growing popularity of aromatherapy among consumers are likely to drive the growth of the market in Europe during the forecast period.
The rose extract market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the global rose extract market as a part of the global agricultural products market under the global food products market of the global food, beverage, and tobacco market. The global agricultural products market covers crop growers, owners of plantations, and companies that produce and process foods but do not package and market them. Our market research report has extensively covered external factors influencing the parent market growth during the forecast period.
Rose Extract Market Scope |
|
Report Coverage |
Details |
Page number |
160 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6% |
Market growth 2023-2027 |
USD 134.2 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.5 |
Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
Performing market contribution |
Europe at 38% |
Key countries |
US, China, Germany, UK, and France |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Afriplex Pty Ltd., Alba Grups Ltd., Alteya Inc., Aromaaz International, Ecomaat Ltd., Ernesto Ventos SA, Firmenich SA, Hangzhou New Asia International Co. Ltd., Honeyberry International LLP, India Essential Oils, Kanha Nature Oils, Oshadhi Ltd., Sakha International, Thracian Oils Ltd., Vaibhav Perfumery, Wild Hibiscus Flower Co., Xian Peihong Biotechnology Co. Ltd., Young Living Essential Oils LC, Zahra Rosewater Co., and First Natural Brands Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
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